Grayscale Targets Sui’s Infrastructure Through New DeepBook and Walrus Trusts
grayscale has expanded its investment options with two new trusts linked to Sui’s DeepBook (DEEP) and Walrus (WAL). This shift offers investors deeper access to Sui’s essential protocols.
In a press release on August 12, Grayscale unveiled single-asset investments into DEEP and WAL. These moves give accreditation to traders, focusing on Sui’s core order book and data layer, crucial for fast trading and efficient data storage.
This strategic change shows Grayscale’s interest in blockchain infrastructure rather than Layer 1 tokens alone. DEEP and WAL are believed vital for smooth, private transactions across various platforms like decentralized finance (DeFi), gaming, and social apps.
- DEEP aims to improve liquidity in trades.
- WAL focuses on scalable,secure data storage on the blockchain.
Co-Founder and CPO at Mysten Labs, Adeniyi Abiodun, noted this advancement as critical to Sui’s future success and contribution to crypto’s progress.
Sui’s rapid development reflects in DEEP and WAL’s market cap ranking—113th and 110th with values of $580 million and $609 million as per CoinMarketCap.
Post-announcement mishmashes in prices revealed DEEP soaring 12%, to $0.1691, and WAL rising 7%, to $0.4304. These figures show investor confidence boosted by Grayscale’s involvement.
Still, Grayscale alerts buyer caution. Both protocols are nascent with uncertain future adoption levels and highly volatile token markets.
